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The Lethbridge Herald (Newspaper) - January 22, 1974, Lethbridge, Alberta 11 LITHMIDOI HIMALD Tuttdiy, January 22, FRANKFURT ZURICH Toronto market prices lower in active trade AMSTERDAM OSLO STOCKHOLM ROME CWMS USBON VIENNA SYDNE Y 70330 44 3S 50 2i 6278 4? 0? JJ 3? 1464 448 14733 70488 efcm 44 SS 44 IS 4405 4861 48 M Si 98 618! 4? 18 4647 4635 11 40 H '7 u 1467 M3' 44882 44375 442J Briefs rs customers Tokyo bank clerk briefs to customers after putting no quotation sign on the board as the Tokyo foreign exchange market was closed Monday, following floating of French franc. Is the world drowning in untapped petroleum I'OKONTO (CPi Prices on the Toronto stock market were sharply lower in active midmorning trading today. The industrial index, considered the mam indicator of market trend, fell .75 to 208.97 and golds 6.02 to 553.84. Base metals rose .03 to 101.71 and western oils 1.09 to 267.17 Volume by 11 a m. was 1.38 million shares, down from 1.92 million at the same time Monday. Advances edged declines 147 to 144 with 202 issues unchanged Merchandising, steel, industrial min- ing and paper and forest stocks were among declining the market while chemical communication, pipe- line and utility issues were slightly highoi NoraiKlj A fell 3i to Wiley Oilfield ID International to 2. Gull Canada to and Aquilaine '2 Pacific Pete rose Ji to Home Oil A to i, Inco to and Texasgull to Dome Mines fell to "H, Giant Yellowknile '2 to and Agnico- Eagle to Rio Algom was up to and Placer '2 to Total Pete gained :b to while Ranger declined '2 to MONTREAL (CP) Prices were generally lower m light trading on the Montreal stock market today. Volume on the Montreal Stock Ex- change at 11 a.m. was 525.700 shares, compared with 869.800 shares at the same time Monday. Industrials fell .65 to 235.88, papers .56 to 123.05, the composite .50 219.62. and utilities .47 to 139.31 while Banks rose .61 to 261.79. Hudson's Bay Oil and Gas fell to MacMillan Bloedel 'A to Moore Corp. Vj to 4, and Dofasco to while Reader's Digest Associ- ation rose Va to Among speculative issues Massval Mines Ltd. rose one cent to 16 cents on a volume of shares traded. were up .36 at 13.10 on 226.600 shares. High Hawk rose .02 to .29 on 138.332 shares. Bow Kiver was un- changed at .43 and Dollv Varden rose .04 to .32. In the oils. Alaska Kenai rose .01 to on 41.655 shares. Seneca Developments rose rose .07 to on 38.749 shares. Freehold rose .25 to on 26.300 shares. Coynex Developments rose .03 to .78 on 12.000 shares. Monterey A was up .02 at .28 and Princess Ventures fell .02 to .21. NEW YORK (AP) The stock market remained slightly higher today after pulling back from a strong early gain. Blue chips were flat. The Dow Jones average of 30 in- dustrials, up nearly 10 points in early trading, was unchanged at 854.63 at noon, while advances led declines on the New York Stock Exchange by about seven to four. On the American Stock Exchange, the market-value index at noon was up TULSA, Okla. (AP) Are the United States and the rest of the world "drowning in oil" that hasn't been tapped while many countries are crippled by shortages? Maybe, says a spokesman for the Association of Petroleum Geologists. But much of it has still to be found. And up to now it hasn't been possible or economical to produce it. Fred Dix, executive direc- tor of the association of geologists, warns against op- timism that the U.S. will be able to become self-sufficient in energy within a short period of time. Speaking of all energy sources, not just oil and gas, Dlx said: "In 10 years, maybe. Fifteen years, yes." Referring to a recent state- ment by consumer advocate Ralph Nader that the world is "drowning in Dix said: "If Nader includes the world he is right; if he means the United States, it just isn't there." Dix compared oil with the amount of gold in the world. "There's lots of gold, too, if you could get it he said. "There's enough oil left in the world but we (geologists) look at it in terms of what can be recovered at a reasonable cost." VANCOUVER (CP) Prices were up Monday in heavy trading at the close of the Vancouver Stock Ex- change. Volume was 4.281.937 shares. On the industrials board. Newmark Resources was unchanged at on a turnover of 10.400 shares. Tokar Ltd. was at on 6.000 shares. Pacific Petroleum was at on 5.000 shares. Key Industries was at .15 on 4.500 shares. Block Brothers was unchanged at and Great National land was at .85. Most active issue in the mines was Northair. up .30 at on shares. Consolidated Standard rose 01 to .20 on 274.540 shares. Northair Metals LONDON (AP) Closing metals bid-ask in pounds sterling a metric ton: silver in pence a troy ounce: 909-911: futures 903- 905. Tin-Spot futures 2.865. 250-250.5; futures 255- 255.5 600-605: futures 560-562. 179-179.5: 3 months 186.5-186.7. I Trans-Canada Ttlepkwe System Before you can solve a business communications problem it has to be identified, right? We've got a man who can help you do both. And his in-depth study costs you nothing. WHO IS HE? An AGT Communications Consultant. He helps small businesses spot problems they thought existed only in large companies. Helps large companies improve their profit picture at branches coast to coast. Helps knit world-wide organizations closer together. What can he do for you? As a trained business researcher, he works with you and your people. Pinpoints communications gaps. Gets to grips with delays in moving, processing and dealing with information vital to your everyday business decisions. His in-depth study costs nothirfg. And it can mean greater efficiency and profit for you. Edmonton: 425-2770 Calgary: 267-3777 Other: Dial '0' (Zero) and ask for Zenith 33000 Toll Free Talk with a Communications Consultant Keeps you in touch with tomorrow Livestock Calgary CALGARY (CP) Receipts to 11 a.m.. Tuesday from the Calgary public stockyards totalled about head, mostly slaughter cattle lacking in quality and condition. Trade was- moderately active.' Slaughter steers sold a full lower. Heifers sold about steady. Cows to lower with sales to Steers Al and 2 52-53.10, A3 50.50- 51.50, M 49-50. Heifers Al and 2 45.50- 47.30, A3 43-45, A4 40-42.50. Cows Dl and ,2 33-35, D3 30.50-33.50, D4 27-30. Replacement cattle were mostly short-keep steers and heifers in the heavier weight range selling at steady prices. There were insufficient stock calves on offer early to establish quotations. Good feeder steers more than 850 pounds 48-53. Good feeder heifers more than 650 'pounds 40-46.50. Good stock and feeder cows 29-36. Hogs f.o.b. Calgary to 11 a.m. average base price 46 55. Port Macleod FORT MACLEOD On offer by Fort .Macleod Auction market last week were 1.358 of cattle. Slaughter receipts, mostly steers and heifers. Increased demand on all classes of stockers and feeders selling in line with the improved beef trade A2 steers 52.90-53.20: Al steers 53.70; Al and A2 heifers 44.30-45.60: A3 and A4 heifers 43.40-44. Dl and D2 cows 35.50-37; D3 and D4 cows 29-33: balogna bulls 42.75-45. Good steers (850 to pounds) 53.20-55: (650-775 pounds) 53.40-56; good steer calves 57-62.50. Good feeder heifers 700 to 800 pounds) 43.80-45.50: good heifer calves 45-49; with replacements to 53.10. At Hi-way 52 feeders 500 head were offered. Al and A2 steers 53.70-53.90; Holstein 1 load 47.25. A3 and A4 heifers 44.70-44.85: Al heifers 46.80. Winnipeg grain WINNIPEG (CP) Flax and rapeseed continued to gain, while rye eased, in moderate activity today at mid-session on the Winnipeg Com- modity Exchange. Exporters were active in flax, es- pecially early months, driving May and July prices as much as 24 '-2 cents a bushel higher. Late months were up by about 15 cents. The rye market eased as much as eight cents by mid-session, after a slight gain at the open. Rapeseed was variable, ranging from lower to 10 higher, as the market waited for news from the Chicago soybean trade. Monday's volume of trade was 000 in flax. 1.806.000 in rapeseed, 000 in rye and no oats or barley. Mid-session prices: Flax: May higher 11.91; July 23 higher 10.95; Oct. 15 higher 10.27; Nov. not open Rapeseed Vancouver' Jan. 10 higher 8.35B. March 10 higher 7.97; June higher 7.35: Sept. not open. Rapeseed Thunder Bay: May 'A higher 7.20. Rye: May 6Vz lower 3.68V2; July lower 3.51 VzB; Nov. not open. GRAIN QUOTES High Low Close Flax May 1176 1148 Jly 1080 1064 1072V2 Oet 1025 1012 1012 Nov 985 Rapeseed Vancouver Jan 825 814 825 Mar 787 770 787 Jun 710 Sep 714 706 714 Rapeseed Thunder Bay May 723 705 721 Jly 694 Oct 650 Nov 639 Rye May 377 361 375 Jly 361'i Nov 348 Chicago markets CHICAGO (API Most commodity futures closed sharply higher on United States Exchanges Monday. Several limit advances were posted, cotton was down the limit. On the Board of Trade, soybeans, soybean oil and wheat all closed on limits higher. Gains also were posted in oats, but corn and soybean meal prices were irregular. Cotton futures were down a bale and world sugar and wool futures were mixed, but silver, copper, cocoa, coflcc and orange juice futures were strong Pork bellv and shell egg futures declined on the Mercantile Exchange, but live cattle and hog futures were mixed to higher. Concern that some foreign curren- cies might be devalued triggered mild early selling of futures, but there was good support from commercial interests and commission houses. There was a private crop report that indicated United States soybean acreage might be lower this along with production and this set off buying of soybean and oil futures, although the information had been publicized wide- ly some weeks ago. Grain quotations Monday: Wheat Mar 5.68; May 5 48. Jul 4.88. Sep 489: Dec 491. Corn Mar 2 93. May 2.96: Jul 2.9K, Sop 2.89. Dec Mar 2.74'.. Oals Mar 165. May 1.67V Jul 1 Scp-l B4'i. tarS.MO.M and over... Real Fast on any type of property fast courteous service no red tape Don't disturb your low interest first mortgage. M.. 24 at 95.33. while the NYSE index was up 04 at 51 07. NYSE prices included Wmnebago, down :'s to Fairchild Camera, off to Disney, olf P.. to Raytheon, down U: and Ron- son.-up 'i to Among Canadians on the New York exchange. Dome Mines lost to and Alcan >i to Seagrams gained to Mcln- i International Nickel '4 to i. and Hiram Walker to On the American exchange. Brascan dropped to and Scurry Rain- bow gained to Currencies MONTREAL (CPl Tuesdays mid-day foreign exchange nominal selling rates supplied by the Bank of Mointreal: Australia dollar 1.485 Bermuda dollar 1.02 China renminbi .4950 Denmark kroner .1550 France Iranc financial .1900 German mark .3575 Italy lira commercial 001550 Japan yen 003325 Mexico peso .0805 Spain peseta .00175 Switzerland franc .3000 United States dollar .9955 United Kingdom pound 2.19 tl.S.S.R. ruble 1.3395 Quotations in Canadian funds. Gold prices WINNIPEG (CP) Gold futures, U S funds, Winnipeg Commodity Ex- change close Monday. Jan 74 136.70B: Apr 74 143.25: Jly 74 149.50B; Oct 74 154.85B' Jan 75 159.90B. Friday's volume: 332 contracts. Beef futures WINNIPEG (CP) Live beef futures close Monday. Jan 54.00N: Mar 54.90N: May 56.40N: Jly 55.00N Friday's' volume: Six contracts. Hog prices EDMONTON (CP) Average prices to 11 a.m. Tuesday provided by the Alberta Hog Producers Marketing Board with Monday average" in brackets: Edmonton: 46.55 Red Deer: No sales Calgary: Lethbridge: No sales Lloydminster: No sales Fort Macleod: No sales Grande Prairie: No sales Fairview: No sales Total hogs sold to 11 a.m. 268, total Monday, Average 48.70. Sows average 34.75. Dollar value MON'irtEAL (CP) U.S. dollar in terms of Canadian funds at noon today was up 1-25 at 11-50. Pound sterl- ing was down 29-100 at 3-5. In New York, the Canadian dollar was down 1-25 at 39-50. Pound sterling was down 1-5 at 3-10. Earnings By THE CANADIAN PRESS Alcan Aluminium Ltd., year ended Dec. 31: 1973. million. U.S. funds, a share; 1972. million, Crown Zellerbach Canada Ltd., year ended Dec. 31: 1973, million. a share; 1972, Daon Development Corp., year end- ed Oct 31: 1973, a share; 1972, 90 cents. Intermelco Ltd., year ended Oct. 31 1973. 56 cents a share: 1972, 37 cents. Murphy Oil Co. Ltd., year ended Dec. 31. 1973. a share: 1972. 91 cents. By THE CANADIAN PRESS Dividends are quarterly unless otherwise noted. Canadian Canners Ltd., Class A, 18% cents. April 1. record March 1. Central Fund of Canada Ltd., class A. a share. Feb. 15. record Feb. 1. Deltec International Ltd'., American Depository shares. 10 cents. U.S. funds. March 5. recorded Feb. 15. International Ltd., 2'z cents. March 1. record Feb. 15. Rank Organization Ltd., A ordinary. interim dividend, three cents, Cdn tunds. April 10, record Feb. 27 Reid Lithographing Co. Ltd., 6'A per cent pfd.. cents. Feb. 15, record .Ian 31. Simpson's Ltd., live cents. March 15. record Feb. 15. Texaco Canada Ltd., 33 cents, Feb. 28. record Feb. 8. Texas Eastern Transmission. 39 'i cents US funds. March 1. record Feb. 8. Union Carbide of Canada Ltd., cents. March I. record Feb 10 Gas shortage cuts ads by oil companies TORONTO (CPl The gasoline shortage is reducing advertising by some of Canada's leading oil com- panies, spokesmen for the companies said Tuesday. Normally the companies spend about million annually on all-media advertising. Imperial Oil Ltd. ol Toronto said it will spend less this year than the es- timated million annually it previous- ly has spent on advertising and Gulf Oil I.Id ol Toronto said there is a possibility" that it too would rut back on advertising spending although no reductions have yet been made Texaco (.'anad.i Ltd is abandoning a national retail promotion which has offered customers j range of "hargam- prioed" products and it nas droppedex- change privileges nn its credit card they were not justifiable at present However. Shell Canada Ltd. of Toronto and BP Oil Ltd. of Montreal said thpy will not cut hack on advertis- me spomlinc The Herald Business Stocks Miscellaneous Vancouver, Calgary, Montreal Midland Doherty Limited WESTERN AND Afton Mines Albany Cdn Sd Ashland A Alta East BP LINE Brenda Gas Line Can Gas Line Cdn Exp Nat Cdn Nat Cdn Ind Cdn Long Metro A and C Cdn and C Gas B Dome Gas Dynasty Fort Pipe Tr-Can Pipe A 62.00 Giant Mascot Gib Pipe B Pfd Tr-Can Pipe 5.12'xi Gt Trans Gt Cdn Oil Lpchiel Exp Lytton Minerals Noble Mines North Cdn Oils 1.11 .82 Barons Oils N Continental West Warner .04 .02 .25 Pancdn Pete Pan Ocean 16.75 Atlas Explor Bath 1.32 Pinnacle Place Dolly .30 POnotjr Ranger Oil Scurry Rainbow Seibens Spooner Total Pete Ulster Pete United Canso WC 17.75 .32 6.87Vz 1.27 22.25 Res Lornex Primer Pyramid Silver Stanard Valley Copper INDUSTRIALS Colum 9.35 .13 .12 1.83 9.60 3.05 West Acres BC Sugar A Intl Block Cdn Pac Inv A Cdn 6.99 Com Cap Cdn 7.39 Carling O'Keefe A Cdn 3.68 Carling O'Keefe B Grow 5.22 Crestbrook For Crowsnest 5.60 Falconbridge Inter 13.13 F and M Trust 3.12 5.37 Glob Com 6.85 Home Oil Invest S 5.30 Home Oil Fund US 10.54 Hudson Bay 4.90 Hudson Bay 3.33 Hud Bay Oil A 7.97 Hugh Rus C Grow F 12.79 Husky 6.13 Husky Oil B 6.74 Husky Oil D Grow 3.50 Husky Oil E War 5.27 Hys of 5.60 Int Pro Pipe 4.84 Int Pro 4.76 Kaiser 7.93 Loblaw C 6.99 7.87 Pacific 4.99 Pac West 8.66 Pe-Ben 6.26 Rainier 6.21 Toronto mines, industrials (Supplied by Richardson Securities of Canada) Tel Advocate Asb. Akaitcho Bralorne 2.40 2.35 Forest BC Sugar A Bow Valley Ind Cable Ind Bovis O'Keefe Chemcell Can. NW Land Canada Tung. Cassiar Central 3.1S 10.25 Cellulose Cal Power Coron Credit CWN Gas Pfd Chimo Conwest Cons. 4.85 Industries Cdn Marconi Cdn Vickers Coin Lake CPR Dickenson Mines Denison Bathurst Cons Gas D'Eldona Dome Mines Discovery 180.00 Seagrams Dom Bridge Domtar East Malartic East Sullivan 2.30 Textile Dom Stores Dome Pete First Maritimes Giant Y.K. Granduc Hollinger Hudson Bay Hydra Ex. Iron 20.62% 3.65 44.50 24.75 .47 Mobile Grt Cdn Oil General Motors Grt Lakes Gulf Oil Cda Greyhound Hawker Sid ISO Joliet Walker Huron Erie Kerr Addison Key Oil imasca Nickel Lake Shore Langis Silver Madsen .06 Pipe Inv Grp A IU intern') Malartic G.F. Martin Accept Kaps Maclntyre Doug A Laurentide Intern A Nu West Homes New Athona New Calumet Noranda .21 .30 48.00 Massey Ferg McMillan Bloed Moore Corp Molsons A B Pine Placer Cent Pax Exp. Quebec Corp Price Co Radiore Rio Algom Roman Corp. Sherritt Gordon Steep 34.00 13.50 13.62 V4 CDA Simpsons Simp Sears Steel Canada Selkirk A Sunningdale Tek Corp. Texmont United Canso Western Mines WH Copper .21 22.25 3.25 Grp A Trans Mtn Pipe Trans Can Pipe Union Carbide Union Gas Wright Oil Willroy Siscoe Versatile Mfg Yellowknile A Cdn Seed Alcan Algoma Elec BANKS Atco Ind A Imperial Montreal Agra Scotia Bell Tel Brascan Dom Pnval 49.00 14.25 18.25 20.00 28.37Vi 14.62'A 8.12V4 4.00 5.00 5.75 23.12% 2.25 10.00 18.62V4 3.8S 15.25 15.12V4 33.62V4 26.37V4 16.75 40.87V4 36.00 22.2S 9.00 12.50 41.25 28.37VZ 6.50 11.00 51.25 24.00 32.12V4 18.00 4.90 49.25 27.00 39.75 28.25 36.25 21.50 8.12Vi 16.50 16.75 4.60 9.00 3.80 4.90 10.62Vs 16.50 28.75 49.00 22.75 20.50 14.00 11.37% 10.00 14.00 29.12% 13.50 46.25 14.87% 15.12% 33.00 16.00 9.75 13.75 7.25 6.62% 19.00 19.00 18.62% 4.10 2.65 26.75 19.25 35.50 34.75 34.50 New York (Supplied by RichardwM Securities of Canada) Amr. Anaconda Beth. Steel Chrysler Comsat Dupont General Motors Gulf Int. Harvester Kenn Copper Montgomery Ward Sears Exxon Texas Gulf Texas Co. W'x Corporation 50.12% woolworth 1887% 26.50 Westmghouse Elec. 24.25 US. Steel 40.12% 17.75 Qen. Tc! Eiec. 25.50 36.25 TORONTO AVERAGES 167.00 20 Industrials 209.11 down .61 51.87% 20 Golds 552.54 down 7.32 23.25 10 Base Metals 101 90 up .22 26.00 15 Western Oils 206.93 up .AS 40.37% Volume 21.87% NEW YORK AVERAGES 85.37% 20 industrials 857.93 up 3.30 50 20 Rails 189.26 down .07 33.12% 15 Utilities 93.39 up .44 27.62% 65 Stocks 273.08 up .78 14.25 Volume NrwwM ;